market average indicator

alphav6O3q · Nov 24, 2011

Hii..

I use the thinkorswim platform. I havent traded yet, and am studying to understand CANSLIM before trading. Understanding the market average is a big part of this system.

On the thinkorswim platform, there is no volume data on SPX. So I was thinking of using the SPY instead, since the price of the SPY ETF seems to correlate well with the S&P 500.

My question is whether the SPY volume is directly proportional to the total number of shares on the S&P500 traded that day?

thanks

alphav6O3q · Nov 25, 2011

Quote from alphav6O3q:

Hii..

I use the thinkorswim platform. I havent traded yet, and am studying to understand CANSLIM before trading. Understanding the market average is a big part of this system.

On the thinkorswim platform, there is no volume data on SPX. So I was thinking of using the SPY instead, since the price of the SPY ETF seems to correlate well with the S&P 500.

My question is whether the SPY volume is directly proportional to the total number of shares on the S&P500 traded that day?

thanks

if not, is there somewhere else where I can get the price and volume of the various well known market averages such as S&P, DJI, COMP etc. I checked morningstar, google finance and others but they dont seem to have such data.